Carbon-negative Packaging Market is projected to hit US$ 145 Million by 2033 end at a substantial CAGR of 6.5% | Data analysis by Future Market Insights, Inc.
The food and beverage industry in the region has been a key driver in promoting the adoption of carbon-negative packaging. With a significant share in the market, this industry has emerged as one of the leading end consumers of such sustainable packaging solutions.
NEWARK, Del, May 25, 2023 (GLOBE NEWSWIRE) — The carbon-negative packaging market is projected to experience significant growth. It is estimated to reach a value of US$ 77.0 Million in 2023 and is projected to increase to US$ 145.0 Million by 2033. The sales of carbon-negative packaging are predicted to expand at a substantial compound annual growth rate (CAGR) of 6.5% during the forecast period.
In recent years, the importance of sustainable practices and environmental consciousness has gained significant traction across industries. One area that has garnered attention is packaging, a crucial aspect of product delivery.
A promising solution has emerged like carbon-negative packaging as the negative impact of traditional packaging materials on the environment becomes apparent. This innovative approach offers the potential to not only reduce carbon emissions but also remove existing carbon from the atmosphere.
Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in this sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17280
Carbon-negative packaging directly addresses the urgent need to combat climate change. By reducing carbon emissions and actively removing CO2 from the atmosphere, it contributes to global efforts to limit global warming and mitigate the adverse effects of greenhouse gases.
Consumers are increasingly demanding sustainable products and packaging. By adopting carbon-negative packaging, companies can enhance their brand image, attract environmentally conscious consumers, and gain a competitive edge in the market.
Collaboration among various stakeholders, including packaging manufacturers, material suppliers, policymakers, and consumers, is crucial to driving widespread adoption and scaling up carbon-negative packaging solutions.
Bioplastics, derived from renewable resources such as corn flour, sugarcane, or cellulose hold a significant market share in the carbon-negative packaging sector. They are extensively used in various industries, including food and beverage, personal care, and consumer product packaging.
The adaptability of bioplastics to existing packaging methods and continuous technological advancements have contributed to their increased adoption by businesses and consumers.
The food and beverage industry, being a leading player in the carbon-negative packaging market, has embraced bioplastics and other sustainable packaging materials. Many organizations within the food and beverage sector are actively pursuing carbon-negative packaging to meet their sustainability goals and remain competitive.
Analyzing the regional landscape, North America has witnessed significant adoption of carbon-negative packaging due to its commitment to sustainability, strict environmental regulations, and growing consumer awareness. The well-established food and beverage industry in the region has played a crucial role in driving the usage of carbon-negative packaging.
Europe, known for its sustainability efforts and ambitious emission reduction goals, has been at the forefront of carbon-negative packaging usage. The food and beverage industry in Europe has been a key driver, with consumers prioritizing eco-friendly packaging and governments implementing strict regulations and extended producer responsibility initiatives.
In the Asia Pacific region, there are a few factors that have led to the significant adoption of sustainable packaging solutions which include:
- A combination of factors such as government environmental regulations.
- A growing middle class with increased purchasing power.
- Rising environmental consciousness.
Governments in this region have introduced environmental rules and legislation that support sustainable packaging practices and encourage research and development in eco-friendly materials and technologies.
Carbon-negative packaging represents a transformative approach to packaging that can contribute significantly to reducing carbon emissions and mitigating climate change. As we continue to seek viable solutions to the global sustainability crisis, carbon-negative packaging stands out as a beacon of hope for a green and resilient planet.
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Latest Developments:
- Loop Industries, a leading producer of innovative plastic upcycling technology, has formed a strategic alliance with SK Global Chemical, a subsidiary of SK Group.
- Novamont, an Italian bioplastic and biochemicals company, collaborated with UPM Biofuels, a developer of advanced biofuels, to create sustainable and biodegradable materials for packaging applications.
- Danimer Scientific, a global provider of speciality films and packaging solutions, has partnered with Plastic Suppliers, a renowned maker of biodegradable and compostable bioplastics.
Key Companies Profiled:
- Phillips Carbon Black Limited
- Birla Carbon USA, Inc.
- Continental Carbon India Limited
- Cabot Corporation
- Tokai Carbon Group (Cancarb)
- Sealed Air Corporation
- Pregis Corporation
- DS Smith Plc
- Achilles Corporation
- Delphon Industries, LLC
- Smurfit Kappa Group
- Storopack Hans Reichenecker GmbH
- Desco Industries Inc.
- Nefab Group
- Teknis Limited, Elcom (United Kingdom) Ltd.
- GWP Group Limited
- International Plastics Inc.
- AUER Packaging GmbH
- Pure-Stat Engineered Technologies, Inc.
- Protective Packaging Corporation
- Key Segments
Key Segments Covered:
By Packaging Material Outlook:
- Bioplastics
- Engineered Wood Products
- Green Concrete
- Algae-Based Materials
- Others
By End-User Outlook:
- Food & Beverages
- Pharmaceutical and Healthcare
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Table of Content (ToC):
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging
7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Explore Trending Reports of Packaging:
FMCG Packaging Market Demand: Demand in the global FMCG packaging market is projected to grow at a 5.8% CAGR over the forecast period, in comparison with the 4.0% CAGR registered between 2018 to 2022.
Beverage Packaging Market Growth: According to the study conducted by FMI, beverage packaging sales will rise 1.3 times from the base year value over the forecast period, generating lucrative investment opportunities for the manufacturers. A large share of 37.3% of the global beverage packaging market is expected to come from the Asia Pacific region by 2022.
Flexible Packaging Paper Market Size: In recent years, flexible food packaging has seen a significant rise in innovation due to technological advancement. One such type of flexible packaging is flexible packaging paper which has witnessed an upsurge in demand.
Biodegradable Packaging Market Trends: The biodegradable packaging market is projected to bolster the increasing demand for sustainable and eco-friendly packaging in various end use industries. A new forecast by FMI analysis estimates that biodegradable packaging sales will augment from 2022 to 2032 and is anticipated to create a growth opportunity of US$ 1.8 Billion.
Protective Packaging Market Share: Demand for effective protective packaging has skyrocketed in recent years due to the rising penetration of online sales channels. Future Market Insights (FMI) expects online buying habits to increase exponentially in the coming years, which is likely to result in greater demand for protective packaging sales compared to the recent past.
Next Generation Packaging Market Outlook: The global next-generation packaging market is anticipated to grow significantly during the forecast period, mainly due to the growing geriatric population, advancements in packaging material, and the rising need for a sustainable packaging technique.
Liquid Carton Packaging Market Analysis: Sales of liquid carton packaging are expected to rise as demand for packaged foods and beverages increases, as is the ease of carrying and transporting them. In addition to this, demand for liquid carton packaging is rising on account of packaging advancements and the recyclable characteristic of cartons.
Thermoform Packaging Market Sales: According to Future Market Insights, the thermoform packaging market size is anticipated to rise at a CAGR of 5.3% during the forecast period. The market is likely to be worth US$ 84.450 Million by 2033, up from US$ 50.390 Million in 2023
Plastic Healthcare Packaging Market Value: The plastic healthcare packaging market is estimated to be valued at US$ 24,768.7 Million in 2023 to reach an expected valuation of US$ 40,306.8 Million by 2033. The demand for plastic healthcare packaging is projected to record a CAGR of 5% during the forecast period.
Cold Chain Packaging Market Innovation: The target market has a chance to expand as a result of cold chain packaging makers implementing cutting-edge technologies to improve safety and temperature monitoring. During the projected period, it is expected that the market for cold chain packaging will increase by 4.0 times its current market value.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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